By CATHERINE DONNELLY
Special to the PRESS
The Port Isabel City Commission approved its Fiscal Year 2023 Comprehensive Annual Report (CAFR), prepared by the Harlingen firm of Juarez CPA. One significance of the report is that it was completed on time and resulted in what is called a “clean opinion.” The city has now notched six consecutive clean opinions and has consistently completed its report less than 9 months after the close of the fiscal year.
“This audit is the culmination of years of hard work by our city commission and staff to focus on providing quality basic services, implement good financial practices and serve as good stewards of public resources,” said Port Isabel Mayor Martin Cantu, Jr.
The audit also reflects continued operating gains in the General Fund. With the completion of this audit, the city has finally retired the deficit fund balance that it carried from prior periods. As a result, the city’s un-restricted net position increased by $1,298,983, leaving the city with a positive fund balance of $456,465.
“As mayor, and during my previous service on the commission, I’ve been focused on improving the city’s financial condition. The elimination of the city’s negative fund balance is a huge step forward for the City of Port Isabel,” said Cantu.
This marks the first time in over a decade that the city has had a positive fund balance. Additionally, the audit reflected that the city increased revenues while decreasing its expenditures.
“We continue to work to improve the city’s financial performance so that the city can invest in improving public services and infrastructure while keeping taxes as low as possible,” added the Mayor.
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